Wednesday, March 21, 2012

ANN ARBOR, Mich. (AP) -- Domino's Pizza Inc.'s shares jumped in after-hours trading Friday after it announced that it completed its recapitalization plan and is issuing a $3-per-share special dividend.

Domino's recapitalization plan included the placement of a $1.675 billion securitized debt facility, which replaces an earlier higher-interest debt facility. That lowered its interest payments and gave it a fixed interest rate for the next seven years. It also includes an available revolver, which gives the company more financial flexibility.

The private placement deal includes $1.575 billion of senior fixed notes and $100 million of variable funding senior notes. The company will use the proceeds to repay outstanding notes and accrued interest. The remainder will be used for the dividend.

The special dividend will be paid April 2 to shareholders of record as of March 26.

Domino's also said that it may buy back more of its shares. It has $82.3 million remaining under an existing $200 million repurchase program.

Shares of Domino's, which operates nearly 10,000 stores around the globe, rose $1.45, or 3.6 percent, to $41.41 in after-hours trading.

Friday, March 16, 2012

"Finally, when travelers actually disembark, they are too often subjected to inaccurate lessons in American manners and common sense. Americans may be surprised by the conclusions of a 2006 survey by the U.S. Travel Association, which found that foreign travelers were more afraid of United States immigration officials than of terrorism or crime. They rated America’s borders by far the least welcoming in the world. Two-thirds feared being detained for “minor mistakes or misstatements.”

Since then, according to Geoff Freeman, the travel association’s chief operating officer, the border experience for visitors “remains a significant issue.” Partly, Mr. Freeman said, that’s because border staff members are overwhelmed by the volume of travelers; but the larger problem is a mind-set that sees “security and customer service as mutually exclusive.”

This security mind-set occasionally veers into the absurd. Recently, two young European tourists were detained at Los Angeles International Airport for tweeting loose banter about plans to “destroy” America (an apparent reference to partying) and to disinter Marilyn Monroe. Vigilant border personnel reportedly searched their luggage for shovels, then deported them. Overseas commentators reacted with eye-rolling weariness but little surprise."

Joseph Kony resolution introduced in House
"Two House lawmakers on Tuesday introduced a resolution supporting efforts to counter the Lord's Resistance Army, hoping to build on the momentum created by a viral YouTube video spotlighting the atrocities of LRA leader Joseph Kony."